IBC Advanced Alloys Corp (IAALF)

[walterc]

Mr. Mark Smith reports

IBC WINS $7.38 MILLION IN NEW ORDERS FOR BERYLLIUM-ALUMINUM AEROSPACE COMPONENTS FROM LOCKHEED MARTIN

IBC Advanced Alloys Corp. has won a new purchase order for its beryllium-aluminum alloy products from Lockheed Martin, the maker of the F-35 Lightning II aircraft and many other defence systems.

The value of the new order is approximately $7.38-million, which the company expects to fulfill in 2023 and 2024.

"This is an important order for IBC, and our team looks forward to delivering strategic alloy products to help Lockheed and the U.S. Department of Defense meet global national defence mission objectives," said Mark Smith, IBC's chief executive officer and chairman.

IBC is also currently exploring strategic options with potential partners, investors and others with regard to its Massachusetts-based engineered materials division, which produces beryllium-aluminum alloy components for defence and commercial applications, including potential joint ventures, a restructuring, a sale or other options.

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